finra

FINRA

For Release:
Contacts:
Thursday, October 11, 2007
Nancy Condon (202) 728-8379
Brendan Intindola (646) 942-7325 (mobile)

 

 

Clicking on Compliance: FINRA Launches Firm Gateway

Scottsdale, AZ — The Financial Industry Regulatory Authority (FINRA) today announced the activation of the FINRA Firm Gateway - a comprehensive, web-based suite of compliance applications that makes it easier for registered firms to meet their compliance and regulatory reporting requirements.

With a simple, single point of access through the dedicated Firm Gateway section of www.finra.org, the 5,000-plus FINRA-registered firms are now able to fulfill many of their filing obligations directly from their desktops. This includes the ability to submit nearly every electronic regulatory form through the web, such as those required when a broker joins or leaves a firm and branch-office registration forms. Compliance staff also can easily check the status of filings and receive alerts to key regulatory changes

"The FINRA Firm Gateway moves beyond utility," said FINRA CEO Mary Schapiro. "It is a powerful tool that makes the essential work of compliance easier and simpler for firms. It also demonstrates FINRA's commitment to providing firms with the knowledge and tools to minimize regulatory risk for the benefit of investors and the marketplace."

The Firm Gateway provides consolidated access to FINRA applications, aggregating content and tools that help simplify compliance tasks and focus attention on reporting activities that firms must perform. It features some of the most frequently used regulatory applications, including the Central Registration Depository (CRD), Financial and Operational Combined Uniform Single Reports (FOCUS), the Order Audit Trail System (OATS) and the Investment Adviser Registration Depository (IARD).

Other practical features of the Firm Gateway are: customizable links for one-click access to high-frequency tasks, lists of new rules and proposed rule changes, alerts highlighting critical assignments and events and a consolidated "filing cabinet" to organize electronic forms.

FINRA's Firm Gateway is being rolled out in phases, and an currently be accessed by 6,600 individuals at 1,600 firms. When fully deployed during the coming weeks, Firm Gateway will be available to about 25,000 employees - typically compliance personnel - at all 5,000-plus FINRA-registered firms.

FINRA, the Financial Industry Regulatory Authority, is the largest non-governmental regulator for all securities firms doing business in the United States. Created in 2007 through the consolidation of NASD and NYSE Member Regulation, FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business - from registering and educating industry participants to examining securities firms; writing rules; enforcing those rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our Web site at www.finra.org.